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(Reuters) - United Technologies Corp (UTX.N) said on Monday it would separate into three companies consisting of its aerospace, elevators and building divisions, making it the latest industrial conglomerate to pursue such a break-up. The decision follows the completion this month of United Technologies’ $30 billion acquisition of avionics maker Rockwell Collins, which gave enough scale to its aerospace business to be a standalone company. The move is in line with plans of other major industrial companies, such as DowDuPont Inc (DWDP.N), Honeywell International Inc (HON.N) and General Electric Co (GE.N), to shed major divisions, as investors assign more value to the parts of these companies separately than to their sum.

Two activist hedge funds, Daniel Loeb’s firm Third Point LLC and William Ackman’s Pershing Square Capital Management LP, had called on United Technologies to pursue a split, and United Technology’s chief executive, kansas city royals cufflinks Gregory Hayes, had signaled for most of the past year that he was considering the move, “Our decision to separate United Technologies is a pivotal moment in our history and will best position each independent company to drive sustained growth,” Hayes said in a statement..

United Technologies shares were up 2.2 percent at $130.81 in extended trading in New York on Monday. With a market capitalization of $102.5 billion, United Technologies is one of the biggest companies ever to pursue a three-way split. United Technologies said it planned to keep the newly acquired Rockwell Collins business, along with its Pratt and Whitney engines unit and aerospace systems. This combine business generated total sales of $39 billion in 2017 on a pro forma basis. United Technologies said it will spin off its Otis elevators and Carrier air-conditioning businesses tax-free to shareholders.

Otis reported sales of $12.3 billion last year, while the Carrier unit had revenues of $17.8 billion, Hayes will continue in his current role as United Technologies chairman and CEO after the separation, the company kansas city royals cufflinks said, with the separation expected to be completed by 2020, United Technologies raised its 2018 sales forecast on Monday to a range of $64.5 billion to $65.0 billion, up from $64.0 billion to $64.5 billion previously, to include the Rockwell Collins acquisition, The company expects 2018 adjusted earnings per share of between $7.10 and $7.20, down from $7.20 and $7.30 earlier..

MEMPHIS (Reuters) - Ask Memphis residents and they might say that President Donald Trump got this one right: this is the best job market as far as many in this majority black city can remember. For single mother Latasha Harwell, it has meant finally landing a full time job as a medical assistant, one with the regular 9 to 5 hours she needs so she can care for her kids. Chiquita Clayton says she has an open offer to move from part-time to full-time work at a FedEx(FDX.N) warehouse; forklift driver Kendrick Jefferson got $3 dollar an hour more for switching employers.

Unemployment in Memphis hit a post-crisis low of 3.5 percent in April, It has since crept back above 4 percent, though partly because of more people joining the labor force, But with poverty rates here still among the highest in the country, workers, employment advocates, and government officials also say kansas city royals cufflinks that is only half the story, For this good spell to truly matter to black Americans, they say, it will need to continue for years to come, Trump often highlights that overall U.S, unemployment has reached a 50-year low on his watch, and that joblessness among black Americans has set a modern record as well..

The unemployment rate for blacks sunk to 5.9 percent in May, the lowest since 1972 when the figure was first reported separately, but the milestone reflects a trend that took shape years before Trump took office. Black employment has risen about 1.3 million under Trump to hit a record 19.3 million in October, but job gains were the strongest during Barack Obama’s second term when recovery from the Great Recession became more firmly rooted. Recent data indicate job gains for blacks may already be leveling off.

In Memphis, state officials, job recruiters and executives credit a confluence of forces, including a continued boom in logistics, warehousing, and related jobs, for creating what one employment agency executive kansas city royals cufflinks deemed a ‘gold rush’ moment, Yet what matters for them is not who gets credit for today’s strong labor market, but whether it will be durable enough to help workers weather the next downturn, something past upswings failed to accomplish, National data analyzed by Reuters shows minority hiring has remained clustered in industries such as food service, retail, and logistics that tend to pay less and have been quicker to lay off staff when the economy slows..

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